Understanding the Senior Managers & Certification Regime (SM&CR) and How MEMA Can Help

This presentation provides an overview of the Senior Managers & Certification Regime (SM&CR) introduced by the FCA in 2019, emphasizing the importance of accountability within FCA-regulated firms. It covers the key components of SM&CR, including Senior Management Functions, the Certification Regime, and Conduct Rules, along with compliance requirements. Additionally, it highlights how MEMA Consultants offer tailored support and expert guidance to help firms navigate and maintain FCA compliance effectively.

1. Introduction to SM&CR
Overview of the Senior Managers & Certification Regime (SM&CR)
Introduced by the FCA in December 2019.
Aims to foster a culture of accountability within FCA-regulated firms.
Applicable to three categories: Limited Scope, Core, and Enhanced
firms.

2. Key Components of
SM&CR
Core Elements of SM&CR
Senior Management Functions (SMFs):
Replaces the previous Approved Persons
Regime.
Certification Regime (CR): Firms appoint
Certification Functions subject to annual
fitness assessments.
Conduct Rules: Minimum behavioral
standards for individuals across all firm
levels.

3. Compliance Requirements
Compliance and Responsibilities
Statements of Responsibility: Must be clearly defined for each SMF.
Prescribed Responsibilities (PRs): Assigned to specific roles in Core and Enhanced
firms.
Conduct Rules Training: Essential for all relevant individuals.

4. Ongoing FCA Compliance
Support
Maintaining FCA Compliance
MEMA provides bespoke compliance support tailored to client needs.
Services include documentation, ongoing advice, monitoring, and more.
Expertise in helping firms remain compliant with FCA rules.

5. Why Choose MEMA?
Our Expertise and Experience

Over a decade of experience supporting FCA compliance.
Unique blend of regulatory expertise and industry insight.
Proven track record in guiding firms through complex regulatory landscapes.

6. CONTACT US
[email protected]
03301330811

Suite 1810, Unit 3a,34-35 Hatton Gardens, Holborn, EC1N 8DX
https://www.memaconsultants.com/

7. THANK
YOU